Whales in the crypto realm have recently shown a keen interest in three specific tokens – UMA, LDO, and AAVE, according to on-chain reports.
UMA has been a standout performer, delighting investors with an impressive surge of over 190% in the past week and a remarkable 289% increase over the last 90 days, even amidst Bitcoin’s downward trend. Coinglass data reveals that UMA’s open interest has seen a notable uptick, reaching $130.16 million, reflecting a substantial 32.08% rise.
A noteworthy move in the UMA market was observed when a whale executed withdrawals totaling 95,000 UMA ($650,000) from Coinbase earlier in the week. Subsequent to this transaction, UMA experienced a notable 40% increase.
18 hours ago, A Whale withdrew 95K $UMA ($650K) from #Coinbase in 2 transactionns, after which $UMA increased by ~40%.
Address：https://t.co/mGg1apSiNV pic.twitter.com/7HwQgX5X3f
— Scopescan (@0xScopescan) January 23, 2024
Whale Activity On LDO And AAVE
Shifting focus to LDO, recent whale activity indicates an accumulation phase. In the past week, a whale withdrew 361,000 LDO and amassed a total of 1.05 million LDO ($3.16 million).
Despite this accumulation, LDO’s price has displayed bearish figures, witnessing a 6% decline today and a 21% slump in the last 7 days.
Whales are buying the dip.
5 hours ago, whale "" withdrew 361K $LDO and had accumulated 1.05M ($3.16M) for the past week.
Meanwhile, 9 whales withdrew 37.7K $AAVE ($3.3M) 2 hours ago,
Address:https://t.co/5woAu0Pmwi
moneyflow:https://t.co/4wH0YYrv0w pic.twitter.com/9tsvZnWXtT
— Scopescan (@0xScopescan) January 23, 2024
Similarly, AAVE has drawn attention as 9 whales collectively withdrew 37,700 AAVE ($3.3 million) yesterday, signaling a strategic move towards a long position in the token. However, AAVE continues to grapple with bearish trends, reflecting a 5% decline today and a 13% drop in the past 7 days.
This recent whale activity underscores the dynamic nature of the crypto market, where strategic moves by influential players can significantly impact the trajectory of individual tokens.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: dvigalet/123RF // Image Effects by Colorcinch